Daisy O. sells cosmetics and perfume. She is a certified vendor of Yanbal products, which is a cosmetic line native to Ecuador. She has only been in business for four months, but she has years of experience selling perfumes and such because her mother did the same thing for years. After raising an initial $100 from her personal savings, Daisy she began selling to many of the other young girls whom she goes to college with.
Ms. O. needs this loan so that she can continue to replenish the supply she gets every week and meet the demand of the holiday season. Recently, Daisy started selling intimate women’s clothing which is becoming a hot item at her store. With this loan she intends to buy more shampoos, conditioners, lipsticks, eyeliners, blush, and a wider variety of perfumes.
Daisy is only 21 years old, but she is a hardworking woman who wants to succeed in the world. She is single and lives with her parents who are also small business owners. Their entrepreneurial spirit inspired Daisy to try something out on her own, and although she doesn’t sell Ecuadorian food like her dad or lunch meals like her mother, she plans ahead and invests her money on products that she knows will bring a decent return. Her goal is to become totally self-sufficient, pay for school, and no longer have to depend on her parents for financial support.
Mifex offers its clients microinsurance and access to business training and educational programs. For more information about microfinance, Ecuador, and our services, please visit www.mifex.org.
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Success!! The loan was 100% repaid